Geoff's FX Journal

Discussion in 'Journals' started by esuperbo, Nov 13, 2005.

  1. esuperbo

    esuperbo

    December 9, 2005

    Account Balance: $98,460
    Unrealized P&L: $5,622
    Net Asset Value: $104,082
    Margin %: 41%

    AUD/JPY: Long 2 units.
    GBP/JPY: Long 2 units.
    GBP/CHF: Long 1 unit.

    Nothing too spectacular today - going into the weekend with a nice carry boost.
     
    #31     Dec 9, 2005
  2. esuperbo

    esuperbo

    December 12, 2005

    Account Balance: $98,010
    Unrealized P&L: $6,332
    Net Asset Value: $104,343
    Leverage: 4.25

    AUD/JPY: Long 3 units.
    GBP/JPY: Long 3 units.
    GBP/CHF: Long 2 units.
    NZD/USD: Long 1 unit.

    I'm confused as to what margin % refers to - from now on I'll report leverage as (position value / net asset value). I need to work on my entrys/exits once Jan 1st hits, I'm not a fan of getting stopped out so frequently.
     
    #32     Dec 12, 2005
  3. esuperbo

    esuperbo

    December 12, 2005

    Account Balance: $98,068
    Unrealized P&L: $5,814
    Net Asset Value: $103,830
    Leverage: 4.25

    AUD/JPY: Long 3 units.
    GBP/JPY: Long 3 units.
    GBP/CHF: Long 2 units.
    NZD/USD: Long 1 unit.

    Nothing too spectacular. AUD/JPY is currently coiling its way down, we'll have to see where it pops. GBP/JPY is retracing after a breakdown this morning.
     
    #33     Dec 13, 2005
  4. fader

    fader

    hi Geoff - there are threads here on ET discussing risk management issues and parameters - i think there is a current thread titled something like "Money Management" you can look it up - try searching for Sharpe ratio, Sortino ratio, you should come up with the relevant threads discussing these issues - in the end, risk management is the most critical part of your trading business, all else is secondary, if you mismanage / miscalculate / not understand risk and as a result take a significant hit to your equity, you may not be able to recover no matter how good your strategy is.

    so eventually you can come up with some way to normalize your performance figures for the leverage you are using... - in simple terms: if your leverage is 100 times, you are buying 100K worth of currency with 1000 margin.. - so if your return is 4K, your leveraged return is 400% and your unleveraged return is 4%

    in the end, as you will find from the reading, it comes down to how volatile are your returns on your overall equity and how large are the drawdowns.

    all the best.
     
    #34     Dec 13, 2005
  5. esuperbo

    esuperbo

    December 14, 2005

    Account Balance: $100,808
    Unrealized P&L: $62
    Net Asset Value: $100,870
    Leverage: 0.36

    NZD/USD: Long 1 unit.

    The long awaited day of JPY reckoning came - and it wasn't pretty. Got away with a ~3% loss on a multihundred pip drop in multiple pairs though...

    I really need to work on entries and exits. I'm coming to realize my current system is rather crude and needs some refinement. I'm planning on observing my current system in FXTrade and some in development systems in FXGame in the next few weeks.
     
    #35     Dec 14, 2005
  6. esuperbo

    esuperbo

    December 15, 2005

    Account Balance: $100,508
    Unrealized P&L: $0
    Net Asset Value: $100,508
    Leverage: 0.00

    I'm out! Completely! Bit frustrating, but it's better than losing more money. Most of the carry pairs took a hit this week.
     
    #36     Dec 15, 2005
  7. esuperbo

    esuperbo

    December 16, 2005

    Account Balance: $100,516
    Unrealized P&L: $0
    Net Asset Value: $100,516
    Leverage: 0.00

    Nothing to say with no positions on.
     
    #37     Dec 16, 2005
  8. esuperbo

    esuperbo

    December 19, 2005

    Account Balance: $100,542
    Unrealized P&L: -$260
    Net Asset Value: $100,282
    Leverage: 0.98

    NZD/USD: Long 1 unit.

    Underwater on NZD/USD. The system is currently quite defensive due to the drastic declines in JPY short pairs.

    In unrelated news, I'm done exams! Already a few beers into it, wish me luck tonight as I wear off some exam stress.
     
    #38     Dec 19, 2005
  9. esuperbo

    esuperbo

    December 20, 2005

    Account Balance: $100,240
    Unrealized P&L: $460
    Net Asset Value: $100,700
    Leverage: 1.28

    GBP/CHF: Long 1 unit.
    USD/CHF: Long 1 unit.
    USD/JPY: Long 1 unit.
     
    #39     Dec 20, 2005
  10. esuperbo

    esuperbo

    December 21, 2005

    Account Balance: $100,260
    Unrealized P&L: $640
    Net Asset Value: $100,900
    Leverage: 1.27

    GBP/CHF: Long 1 unit.
    USD/CHF: Long 1 unit.
    USD/JPY: Long 1 unit.

    Bit late on an update today... I won't go into why, but suffice to say that:

    If ANYONE knows of a decent 2 bedroom setup in the Toronto area for the next 4 months (Jan-Apr 2006) PM me.
     
    #40     Dec 21, 2005